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Ihor dusaniwsky — the head of predictive analytics at financial technology and analytics firm S3 partners, which specializes in analyzing data on short selling — told marketwatch that gamestop is in a unique situation on the short side.

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Dusaniwsky said that short sellers’ net mark-to-market losses are $6.12 billion this year, including a loss of $2.79 billion monday, when the stock was up more than 60%.

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Gamestop stock sets record, then loses bulk of gains in another volatile day of trading

Wallace witkowski

Stock in videogame retailer that’s at center of battle between a reddit message board and short sellers rockets to an all-time high before plummeting to a loss amid jagged trading

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Gamestop corp.’s stock spiked past $150 monday, then plummeted to a loss on the day in another volatile session as loyalists and short sellers clashed over the value of the videogame retailer.

Gamestop GME, +46.62% shares flew as much as 144% higher to an intraday record of $159.18 earlier monday while being halted several times. Soon after, shares briefly fell into the red on the day, before settling at around a 20% gain in the second half of the trading day.

The stock finished up 18% at $76.79, a record-high close. More than 175 million shares exchanged hands by the close on a stock that’s averaged daily volume of less than 9 million shares over the past 52 weeks. Friday’s volume for gamestop’s stock was a record-high 197.2 million shares.

In january alone, the stock has skyrocketed as much as 400% amid a battle involving a retailer that has been slammed by the COVID-19 pandemic and online purchasing of videogames. Gamestop has been a darling of reddit message board wallstreetbets, where hundreds of posters have been pushing for purchases of the stock after investors betting against the chain pushed short interest to more than 100%.

Short sellers have targeted gamestop stock as the pandemic added to issues with sales moving online. Noted short seller andrew left of citron research released a video late thursday outlining points on why gamestop should be a $20 stock, then pulled back and claimed he and his family had been threatened. Shares began rallying midmonth with a 57% surge on jan. 13, with five out of the next seven trading days logging daily gains of 10% or more despite a disappointing preliminary earnings report from the retailer. The stock finished up 51% on friday after citron canceled a planned live stream citing harassment and hacking attempts.

“we are seeing a short squeeze on older shorts who have incurred massive mark-to-market losses on their positions, but are seeing new shorts coming in and using any stock borrows that become available to initiate new short positions in hopes of an eventual pullback from this stratospheric stock price move,” dusaniwsky said.

“this is keeping overall shares shorted in GME relatively flat even though there is a significant short squeeze occurring in a sizable amount of existing short sellers,” dusaniwsky continued. “much like the revolutionary war, the first line of troops goes down in a rain of musket fire, but is replaced by the troops next in line.”

Dusaniwsky said that short sellers’ net mark-to-market losses are $6.12 billion this year, including a loss of $2.79 billion monday, when the stock was up more than 60%.

On monday, telsey advisory group analyst joseph feldman downgraded gamestop to underperform from outperform and cut his price target to $22 from $33. Feldman said the price surge on the year was “not sustainable.”

“the sudden, sharp surge in gamestop’s share price and valuation likely has been fueled by a short squeeze, given the high short interest (still +100%), and, to a lesser degree, speculation by retail investors on forecasts for the new gaming cycle and the involvement of activist RC ventures,” feldman said.

Of the eight analysts who cover gamestop, four have hold ratings, and four have sell ratings, along with an average target price of $12.39, or more than 80% below its current price, according to factset data.

Gamestop has not released any news to coincide with the spike, and did not respond to a request from marketwatch to comment. The securities and exchange commission declined to comment on monday about any potential investigations.

Earlier this month, gamestop admitted that holiday-quarter sales had dropped more than 25% and come in lower than expectations. Over the past two quarters, losses for the company have widened significantly, following its april 2020-ending quarter when gamestop reported an adjusted loss of $1.61 a share versus the 7 cents a share in earnings it had reported in the previous year’s quarter.

Analysts expect adjusted earnings to rise 12% to $1.42 a share for the holiday-boosted january-ending period with revenue advancing 5% to $2.29 billion, compared with the year-ago period.

Reddit moderator slams wall street ‘fat cats’ as gamestop’s wild ride continues — ‘they hate that you played by the rules and still won’

The smug factor is running hot in reddit's buzzy wallstreetbets community, where a growing number of NSFW stock-flippers --- the subreddit has more than 2 million subscribers --- are clearly feeling pretty good about themselves these days.

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Cash trading

'it's going to change from something that's been dramatically human,' he said, 'into a series of battery hens trading on the screen.

'I know the world moves on, and the world changes. But I feel very, very sad about it.

'something unique culturally is going, and it's been something that has dominated the world. It's been number one. All over the world, people have tried metal exchanges at different times to challenge the LME. And do you know what? None of them ever have.'

Farage argued that 'physical meeting together' in the ring is a more accurate way of pricing and trading complex metals contracts, adding: 'that's something I'm not convinced works on a computer.'

He said that his experience of working at the exchange also influenced his belief in brexit.

'it was one of the things that made me a eurosceptic, because it was a truly global marketplace,' said the brexit party founder and former MEP and ukip leader.

'I thought to myself in the late 1980s and early 1990s 'why are we tying ourselves so closely to one market, when actually at the LME what we are proving is we can do things internationally?'

'so the two have always been very, very closely linked.'

Farage argued that 'physical meeting together' in the ring is a more accurate way of pricing

Farage's views set him at odds with matthew chamberlain, the chief executive of the LME.

Chamberlain told the mail on sunday that he believed the future of the exchange was electronic, as trading volumes in the ring continue to fall.

'even just before the pandemic closure, only about 10 per cent of our total business was being transacted on the ring,' he said.

He argued that electronic pricing during the pandemic had been successful and had given more traders and brokers access.

He added: 'we've been clear with what we as the management team think: electronic is the way of the future, and we think we should now move in that direction.'

Hong kong's stock exchange group snapped up the metals exchange in 2012 for £1.4billion, which farage reckons set the trading ring on course for eventual closure.

He said of bosses at the hong kong stock exchange: 'I had a suspicion right from the very start that once they owned the LME, they would first try and get their money back from it by increasing the fees, which they did.

'they would be more than happy for one of the markets in shanghai or wherever to become the place that sets the daily price for metals transactions.

'so I'm less surprised by this, but still extremely disappointed.'

Hong kong's stock exchange group snapped up the metals exchange in 2012 for £1.4billion

The exchange is asking for feed back on the plans before coming to a final decision in april.

Farage is calling on trading members to rally against the move, saying: 'do you really think computer systems can suit this?

'if you've got even the slightest concern, you better try and keep the floor open. You've got to lobby the exchange. I think the members should stamp their feet a bit.'

Supporters of the ring's closure said it could be a chance for the exchange to clean up the image of its laddish culture.

The LME came under fire when one of its commodity trading companies, gerald group, hosted an event at the playboy club in swanky mayfair in 2018. The following year, the exchange released a code of conduct and issued a ban on daytime drinking.

Farage admits that there was a boozy culture in the 1980s. He was reportedly told to leave the trading firm credit lyonnais rouse after bringing a drunk friend on to the trading floor after a long lunch.

He said: 'it was quite laddish, but then the city was in those days and things have changed a bit. It was of course very male dominated.'

But he added: 'if anything, it was the epitome of thatcher's britain where, regardless of your accent, or where you went to school, you could prosper. I worked with old etonians, I worked with titled people, and I worked with the lads who came up from southend-on-sea.

'the camaraderie between everyone that worked around the ring was extraordinary.

'and after 5 o'clock when the pubs opened, even though you'd been competing against each other all day, it was almost like you were all part of a great big club. There were terrific friendships, industrial scale socialising.'

Though farage did admit: 'clearly the days of everyone coming back sloshed – that probably had to change.'

Beginner's guide to currency trading

Currency returns are outperforming equities, so how can newbies get a slice of the action?

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Pedestrians walk past a board displaying the price of Euro and US dollars against British pound Sterling

UK overseas investors have been doing remarkably well out of brexit. That’s the findings of natixis global asset management’s annual global portfolio barometer, which has found that UK portfolios with significant non-sterling assets saw average performance of more than 13 per cent.

That far outstripped even US investors, who came second globally with average returns of 8.2 per cent.

Interestingly, though, a large part of that success was as a result of currency risk, with currency-related returns outperforming the underlying equity markets.

Matthew riley, head of research at the portfolio research and consulting group, says: “A substantial part of the explanation is currency risk which is no surprise since currency moves in 2016 were the highest since 2008 and had a large impact on the surveyed portfolios.

For example, he says, a UK investor with unhedged US equity exposure (in other words, without making compensating investments to counteract the risk) would have gained an extra 19 per cent return in 2016 due to the depreciation of the pound versus the dollar.

"for eurozone equities, this would have been around 16 per cent, and for japanese equities this would have been 23 per cent. Currency impact was also seen in allocation funds, EM debt and high yield debt funds, which are often not hedged by advisers.”

He adds: “in equities, these currency-related returns were more than the returns of the underlying equity markets. In fact, adding up all of the currency impact, we find that about 7 per cent of the return contribution to UK adviser portfolios, or 50 per cent of the total returns in 2016, came from currency risk.”

One thing is clear, there’s money to be made trading currencies. But for new entrants to the market face a bewildering array of options, platforms and terminology, so here’s a rundown.

Who’s trading?

A lot of people. Foreign exchange is most commonly known as forex and forex is the world’s most traded market. According to cityindex there’s an average turnover in excess of US$5.3 trillion every single day. That’s 4.24 trillion pounds at time of writing, although as will be seen that can change.

A lot of different people are trading, from large companies to part-time traders operating out of their bedrooms, something that only became possible with the proliferation of the internet.

What drives currency movements?

Most people already know that the values of currencies shift, that’s why exchange rates change. And the changes in those rates are determined by multitude of traders buying currencies with other currencies and making judgements on what each is worth in relation to each other.

Prices can change at incredible speed in response to news and global events. Traders look at key factors, including political and economic stability, currency intervention, monetary policy and major events such as natural disasters.

How does it work?

When trading forex, currencies come in pairs, for example, sterling/US dollar. The trader predicts how the exchange rate between the two currencies will change. So, if the trader believes that US dollars will strengthen against the pound then they buy dollars, which means they are also ditching their pounds.

If they are right then the value of their currency rises and they can sell for a profit. If their hunch was wrong then they lose.

For example, the GBP/USD rate shows the number of dollars one pound can buy. If a trader believes the pound will increase in value against the dollar then they use dollars to buy pounds. If the exchange rate rises then they can sell the pounds back for a profit.

One of the reasons forex trading is so popular with hobbyist investors is that the markets are open pretty much 24 hours a day, following the different countries’ time zones.

Will I make any money?

Forex is risky. It’s so risky that many commentators have likened home traders to professional gamblers, arguing that the idea an individual can reliably predict the movements of currencies is nonsense.

There are an abundance of platforms and guides and books and investment tutorials that suggest it’s possible to make a small fortune trading currencies. However, spend any time reading forums and there are hoards of bedroom forex traders losing money day after day.

It can be very expensive to make currency transactions and individual traders usually don’t have a large enough pot to make anything other than small gains.

It’s essential that would-be traders don’t invest money they can’t afford to lose.

This whistle-stop tour of currency trading is not enough to equip a would-be investor with everything they need to know to stand a chance of making an actual return. It’s a complex area and one that, even with extensive reading and knowledge, is full of risk.

There ae stockbrokers and financial advisers available to discuss standard investments and degrees of risk, but for individuals trading forex it’s largely self-taught and fraught with risk.

Before undertaking any kind of online trading, it’s a good idea to spend time reading more and talking to other investors. Just be aware that any book, tutorial or guide that promises large returns is not being entirely honest about the level of risk involved.

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What are day trading rules for a cash account?

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Day trading in a cash account is similar to day trading in a margin account. Margin is the ability to use leverage to buy securities. Trading under a cash account significantly lowers your trading risks. Under a cash account, traders are not able to use leverage, pattern day trade, short sell and traders are subject to the three-day clearing rule. In addition day traders with a cash account are not able to file taxes under a trader status.

Not only do cash accounts prohibit traders from purchasing stock on margin, but they also limit the number of times the same security can be bought and sold in one day.

Purpose for rules

The rules imposed on a cash account are intended to protect individual investors. With research showing that active, speculative traders who don't diversify their portfolios often losing money , the securities and exchange commission set these in place to prevent large initial losses in the stock market.

Types of rules

Traders are subject to the three day clearing rule, which means after a trader with a cash account sells a security they must wait three business days to access the funds to trade again. However, traders under the three day clearing rule are still able to use any settled funds to buy securities. Furthermore, traders with a cash account are not allowed to short sell securities. Short selling is the act of selling borrowed shares and then buying the shares back. Lastly, traders with cash accounts are not able to use borrowed money to buy securities.

In 2001, the national association of securities dealers (now FINRA, the financial industry regulatory authority) enacted rule 4210, which established requirements for what they called "pattern day traders." pattern day traders are defined as traders who meet the following criteria:

Margin customers who buy and sell a security within a trading day four or more times in five consecutive business days

The number of day trades must comprise 6% or more of their total trading activity during that five-day period

Margin customers who incurs two unmet day trade calls within a 90-day period

Pattern day traders must maintain a minimum equity of $25,000 on any day the customer trades. Additionally, those who refrain from any day trading in their account for 60 consecutive days will no longer be considered a day trader.

Frozen accounts

If a trader with a cash account pattern day trades, then their account is frozen for 90 days. Traders are not able to withdraw unsettled funds due to the three-day clearing rule. Not being able to short sell or use leverage greatly lowers financial trading risk, because traders are not able to lose more than what is in their stock account.

Effects on day trading

Trading under a cash account severely limits the amount of trading you are able to do, due to the pattern day trader rule. In addition, because traders with a cash account are not able to pattern day trade, they are not able to file taxes under a trader status. Filing taxes under a trader status allows traders to deduct all of their capital loss against their income.

Day trading risks

Day trading is not right for everyone. Even trading with a cash account involves significant financial risk. Trading with a cash accounts puts you at a large disadvantage, because you are limited to three-day trades per week under a cash account.

Cash trading

Maybe you’re new to forex trading and want to break into an exciting and profitable field.

Maybe you’ve already tried your hand at forex trading – and weren’t pleased with the results.

Maybe you’re seeking more out of life – seeking what you truly deserve, and are just looking for a way to make it happen.

If any of this applies to you, keep reading. The secrets to successful forex trading are about to be yours!

1 min FX CASH trading system

Frequently asked questions

Here are some of the most frequently asked questions, which can clear your doubts;.

Do I need to change brokers to use this system?

No. You can use a free metatrader demo account to run the system on, but place your trades with another broker. Or you can download a free software from ibfx.Com or fxcm.Com

Can I really trade successfully in the forex market using the forex trend system?

Yes! This indicator has been tried and tested over many trading sessions using varied parameters with a high degree of success.

How much profit can I really make?

A point to note here is there is no "holy grail" in trading. No person or system can guarantee 100% winning trades and no losses. Having said that, I am so confident in my fx one minute indicator that I guarantee your winning trades will outnumber the losing ones, in both number and size. The 1 min FX CASH trading system trading system will increase the odds in your favour. The aim is to demo trade until you are confident and then start off small gradually increasing as your confidence increases.

How much money do I need to trade the currency market?

You can start trading a mini account with as little as $250. For a regular account, we usually recommend to our clients to start trading with at least $1,000 or $5,000 to start with.

Which currency pair does your system concentrate on?

The trading system works on all currencies, however I have found the system to be especially accurate with the EUR/USD and GBP/USD. Find a few currencies that you like and stick with them

What timeframes does the system work on?

I have found the system to be consistently profitable on the 1 minute chart, but you can also try on 5-15 mins chart.

Which trading platform does the system work on?

The system works on metatrader 4. It comes with free charts and free platform access.

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As long as we receive your device in the condition you described, we'll pay you the price we quoted.

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We'll send the agreed amount of cash straight to your bank account via BACS within 3-5 working days of receiving your device.

We accept all kinds of devices

We're happy to take most types of mobile phones. We even take damaged and non-working devices.

It’s good for the environment

We pride ourselves on being environmentally friendly; our new trade-in postage packs are 100% recyclable!

FIND A STORE TO TRADE-IN

You can trade-in your device at one of our stores.

We’ll trade in both working and faulty phones, but they must meet some simple criteria to be accepted:

Working phones must:

• power ON/OFF

• have no missing pixels, damage, burnt LCD's

• include battery and charges up

• have NO cracks or chips on screen

• working home button

• have no damage or faults to camera

• have sound & vibrates

• have no liquid damage

• not be bent, miss shaped and have all parts

Non-working phones must:

Not be crushed or bent

Have no components missing

However, we will accept handsets that are water damaged, won't power up/work properly or have a chipped or cracked screen, case or buttons and includes battery.

We can trade in a huge range of handsets, including smartphones from major brands like:

Apple (including iphone models such as the iphone 7, iphone 8, iphone X and much more)

Samsung (including galaxy models such as the S7, S8, S9 and much more)

Sony

Nokia

Blackberry

Postage-paid packages can take up to two working days to arrive. If you still haven’t received it after this time, give us a call us on 0870 087 0168 and we’ll send you another one.

Once you’ve traded in your device, we pass it on to a third party so it can be re-used. Handsets are checked, all the data is wiped and most are then sent to developing markets where mobiles phone use is growing rapidly.

Once your device has been successfully traded in, we’ll pay you the value of your device by direct bank transfer. This means the money will reach your account within three working days of us receiving your item. If you’d prefer a cheque, just let us know.

There are two easy ways you can trade in your device with carphone warehouse:

Online. Just enter your device’s details (brand, model or IMEI/serial number) and we’ll tell you what it’s worth. We’ll send you a pre-paid package so you can post your handset to us. Then, as soon as we receive your item, we’ll directly transfer the money into your account within three working days.

In store. You can bring your phone into any carphone warehouse store and we’ll tell you how much it’s worth. We’ll pay you by direct bank transfer, so you can take the amount off any replacement device you buy in store.

Unlike many of the other phone recycling outfits we guarantee to pay the agreed quote (assuming the phone is in the stated condition of course!). If for any reason we believe the phone is in a different condition to specified we can return the phone to you free of charge.

Once you have requested a phone pre-paid mailing package we will mail it to the delivery address you specify, and you simply put the phone into the post and once we receive your phone and ensure it is in the stated condition we will process payment to you on the same day.

As soon as we receive your phone and ensure it is in the stated condition we will process payment to you on the same day. If you have chosen to be paid by bank transfer you will receive this within 3-5 working days.

We can pay you via bank transfer directly into your bank which you will receive in 3-5 working days, or we can send you a cheque if you prefer.

Your existing phones trade-in value could help you buy out your current contract early, letting you upgrade your phone early without any penalties.

As well as working phones we also pay cash for all types of broken phones, including phones that don’t turn on or have moderate damage such as a broken screen or damaged casing. We can recycle for free any phones which have been extensively damaged, such as where the casing is smashed, or the internals are exposed.

We buy all phones and tablets whether or not they were bought from carphone warehouse.

We buy phones from all networks whether or not you bought the phone from carphone warehouse.

We recommend you do a factory reset on the phone before you send it in, and we also back that up by wiping the phone as part of our recycling process.

1. You confirm that you consent to the carphone warehouse limited(CPW) using your information (including name, address, telephone number, email address, device make/model/IMEI/network) to allow us to process your trade in and contact you and the network in relation to the trade in and unlocking of the device only.

2. You will be deemed to have accepted these terms and conditions ("conditions") when you provide us with the device you wish to trade in (the "device") by either handing us the device if you trade in in-store, or sending the device to us if you trade in online or over the telephone. Before providing us with the device, if you have any questions relating to these conditions please contact us via our website at www.Carphonewarehouse.Com or by calling us on 0370 111 6565.

3. You confirm that you are either the owner of the device or you have obtained express permission from the rightful owner to trade in the device.

4. The device must not be stolen or listed with us or a third party as stolen. We will check the device with checkmend, from the suppliers of IMMOBILISE as used by UK police forces to trace stolen and missing property. If the device fails any due diligence check we may notify the relevant police authority and we may pass the device and your details to them and the quoted value will not be paid to you.

5. The device must not have been purchased from CPW within the 30 days prior to trade in.

6. The quoted device trade in value ('quoted value') will be determined by us or a third party on our behalf based on the make and model of the device.

7. If the device contains a SIM card, you must remove this along with any accessories prior to trade in. We will not be liable for any consequences of you not removing the SIM card or accessories, including any payments associated with the device or the SIM card.

8. Data stored on the device that you wish to retain must be saved elsewhere and you must remove any memory card and/ or all data that has been put onto the device prior to trade in. We will not be liable for any damage, loss or erasure of any such data or for any consequences of you not removing your data or memory card, including use or disclosure of such data.

9. We may deem the device to be a working device or a non-working device, where a:

'working device' means all features of the device are in good working order and condition, there is no physical damage (e.G. Not bent, mis-shaped and has all parts, no missing pixels, burnt lcds, screen has no cracks or chips and device home button works) or evidence of liquid damage. Its battery is included and can charge and power up, camera has no damage or faults, has sound and vibrates, not be subject to any previously agreed trade in arrangement and in the case of apple products, any icloud accounts must be deleted from the device prior to trade in; and

'non-working device' means a device that is not fully functional (e.G. Does not power up, has a damaged screen, case or buttons, or has water damage) but includes a battery, has all its parts, is not crushed or bent, has no missing components and is not subject to any previously agreed trade-in arrangement, and for either the working device or non-working device:

1. For trade ins in-store only:

2. We will pay the quoted value onto your debit card where available within 3 working days; or

3. The value can be used to create a trade-in credit note against any purchase you make in store; or

4. The value can be used as part or full payment for other products. When the trade-in value exceeds the cost of the purchased product(s), any remaining value can be refunded onto a debit card or used to create a trade-in credit note.

5. Once you have traded in the device, it will not be returned to you under any circumstances.

6. For trade ins online and by telephone only,

7. Following you accepting to trade in, we will send you a pre-paid addressed padded envelope (the "envelope") within 3 working days. We will only accept the device if it is returned to us in this envelope. We will not be liable for loss of your device before we receive it;

8. In order to honour the quoted value we must receive the device within 14 calendar days of you accepting to trade in; and

9. Provided the device received is as advised by you and has been received within the 14 calendar days in the envelope, we will send you a cheque within 7 working days or make a transfer via BACS for the quoted value within 3 working days of receipt of the device.

10. If the device received does not completely match the description and detail as advised by you or we have not received it within the 14 calendar days, we will contact you to give you the option either to have the device returned to you at our cost, in which case no value will be paid to you, or proceed with the trade in at a new value advised to you. If you do not respond to this contact as advised therein within 7 working days, we will assume that you have accepted our revised offer and proceed with payment accordingly. Should you wish to make a complaint about the trade-in service, you may do so in the following way:

11. By calling 0370 111 6565

12. In writing addressed to the carphone warehouse, PO box 373, southampton, SO30 2PP

13. Both parties aggregate liability in relation to these conditions (whether in contract or for negligence or breach of statutory duty or otherwise howsoever and whether to any entrant or otherwise) for any loss or damage shall be limited to and in no circumstances shall exceed £250 for any one incident or series of related incidents.

14. CPW reserves the right to withdraw or to change the terms of this offer at any time. Changes will be published on our website atwww.Carphonewarehouse.Com/help.

15. Nothing in these terms and conditions shall affect your statutory rights.

16. These conditions are governed by english law and the courts of england shall have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with these conditions.

17. Each clause of these conditions shall be construed separately and independently of each other and the invalidity of any one part shall not affect the validity of any other part.

18. Calls to our telephone numbers should be charged at local rates but may vary from some providers and mobile phones. Calls may be monitored and/ or recorded.

19. 'CPW' means the carphone warehouse limited (registered no. 2142673), 1 portal way, london W3 6RS VAT number 927 2265 40

20. 'we/ us/ our' means the carphone warehouse limited.

Qualifying terms:
sales within retail - buy the promotional product on a consumer pay monthly connection (new or upgrade) and we will give you the promotional amount advertised at point of sale when you trade-in a relevant phone. Trade-in and connection must take place in the same transaction to qualify. Traded-in phone must be a mobile phone used on the UK network within the last 10 years.

Smartphone is defined as a phone with an operating system running ios, android, blackberry OS or windows.

Online and direct channels - if you have bought a promotional product on a consumer pay monthly connection (new or upgrade) you will need to go to www.Carphonewarehouse.Com/tradeinpromo to enter your new handset IMEI once it has been delivered. We will pay you the promotional amount advertised at point of sale for your trade-in value once we have received and evaluated your phone.

Exclusions - customers who have taken a cashback, web-exclusive or pre-order incentive are excluded from this offer. Promotion cannot be used in conjunction with any other offer. Business connections are excluded from this promotion. Excludes SIM-free handsets, PAYG, business and any 'gift-with-purchase' offers

Other terms:
we reserve the right to withdraw this promotion or change these terms and conditions at any time
maximum of 1 trade-in per connected promotional product.
Trade-in value will be calculated at the time of the trade-in.

Promotional value will be automatically calculated.
For online transactions, the handset must arrive within 14 days after the end of the offer to be eligible for this offer.
As per standard trade-ins terms and conditions
traded-in phone must be a mobile phone used on the UK network within the last 10 years
trade-in call centre opening hours are 9am-7pm monday-friday, 10-6pm saturday and 10-5pm on sunday. Calls to this number cost a maximum of 24p/min with a 15p call set up fee when made from a BT landline. Prices of calls from other providers may vary and from mobiles may cost significantly more. Calls may be recorded and/ or monitored.

You will receive an additional £50 trade-in value when trading in any apple iphone to purchase a new apple iphone 12 mini or iphone 12 .
£400 trade-in value is the promotional price based on trade-in of an unlocked iphone XS max 64GB in working condition.

Model	working promotional price	non-working promotional price
iphone XS max 64GB	£320	£145
iphone XS max 256GB	£390	£155
iphone XS max 512GB	£410	£160
iphone XS 64GB	£350	£135
iphone XS 256GB	£380	£145
iphone XR 64GB	£310	£110
iphone XR 128GB	£325	£110
iphone XR 256GB	£340	£120
iphone 8 64GB	£165	£85
iphone 8 256GB	£215	£90
iphone 8 plus 64GB	£230	£95
iphone 8 plus 256GB	£235	£100

Step 1:order your new apple iphone 12 mini or iphone 12.

Step 3: receive a return postage page envelope in the post and return your old device within 7 days of receiving your new device.

Step 4: funds transferred to your account within 72 hours of receiving your device. Please note: both the trade in and purchase must be done together either online or in store. You can’t purchase your new phone online and trade in in store. The additional £50 won’t be visible online when trading in but will be applied once the device is received and checked at our warehouse. Any additional trade-in value will be given via bank transfer. Full trade in offer available with selected working and non-working handsets. Trade in price is determined by whether the phone is working or non-working. To qualify for a working price the phone needs to power ON/OFF, have no missing pixels, damage, burnt LCD's, include battery and charges up, have no cracks or chips on screen, all working buttons, have no damage or faults to camera, have sound & vibrates, have no liquid damage, not be bent, miss shaped and have all parts. Any handsets that fail these conditions will be deemed non-working and pricing will be reflected. We will accept handsets that are water damaged, won't power up/work properly or have a chipped or cracked screen, case or missing buttons and includes battery and will be given a non-working value. We do not accept crushed handsets.

Receive an additional £100 when you trade in any samsung smartphone when you purchase a samsung galaxy S21 5G, S21 plus 5G or S21 ultra 5G.

Step 1: order your new samsung galaxy S21 5G, S21 plus 5G or S21 ultra 5G.

Step 2: complete your trade-in online https://www.Carphonewarehouse.Com/mobiles/trade-in.Html

Step 3: receive a return postage page envelope in the post and return your old device within 7 days of receiving your new device.

Step 4: funds transferred to your account within 72 hours of receiving your device. Please note: both the trade in and purchase must be done together either online or in store. You can’t purchase your new phone online and trade in in store. The additional £100 won’t be visible online when trading in but will be applied once the device is received and checked at our warehouse. Any additional trade-in value will be given via bank transfer. Full trade in offer available with selected working and non-working handsets. Trade in price is determined by whether the phone is working or non-working. To qualify for a working price the phone needs to power ON/OFF, have no missing pixels, damage, burnt LCD's, include battery and charges up, have no cracks or chips on screen, all working buttons, have no damage or faults to camera, have sound & vibrates, have no liquid damage, not be bent, miss shaped and have all parts. Any handsets that fail these conditions will be deemed non-working and pricing will be reflected. We will accept handsets that are water damaged, won't power up/work properly or have a chipped or cracked screen, case or missing buttons and includes battery and will be given a non-working value. We do not accept crushed handsets.

Receive an additional £100 when you trade in any samsung smartphone when you purchase a samsung galaxy note 20 , Z fold2 or the samsung galaxy Z flip.

Step 1: order your new samsung galaxy note 20, Z fold2 or the samsung galaxy Z flip.

Step 2: complete your trade-in online https://www.Carphonewarehouse.Com/mobiles/trade-in.Html

Step 3: receive a return postage page envelope in the post and return your old device within 7 days of receiving your new device.

Step 4: funds transferred to your account within 72 hours of receiving your device. Please note: both the trade in and purchase must be done together either online or in store. You can’t purchase your new phone online and trade in in store. The additional £100 won’t be visible online when trading in but will be applied once the device is received and checked at our warehouse. Any additional trade-in value will be given via bank transfer. Full trade in offer available with selected working and non-working handsets. Trade in price is determined by whether the phone is working or non-working. To qualify for a working price the phone needs to power ON/OFF, have no missing pixels, damage, burnt LCD's, include battery and charges up, have no cracks or chips on screen, all working buttons, have no damage or faults to camera, have sound & vibrates, have no liquid damage, not be bent, miss shaped and have all parts. Any handsets that fail these conditions will be deemed non-working and pricing will be reflected. We will accept handsets that are water damaged, won't power up/work properly or have a chipped or cracked screen, case or missing buttons and includes battery and will be given a non-working value. We do not accept crushed handsets.

1. The trade-in promise is only valid for comparisons on the cash price offered for the same device, in the same condition.

2. The promise is only available against EE, O2, sky mobile, tesco mobile, three, virgin mobile, vodafone and mazuma mobile on their direct trading sites only – i.E. Not affiliates or comparison sites.

3. Trade-in value will be calculated at the time of the trade-in and you must provide proof of comparison which means official written proof of the higher price; e.G. A printed advertisement or published online deal.

4. To claim a price promise you must email tradeuphelp@cpwplc.Com with proof of the competitors deal such as a screenshot within 7 days.

5. Payment for successful claims will be made directly into your bank account within 3-5 working days.

6. The trade-in promise specifically excludes prices offered by EE, O2, sky mobile, tesco mobile, three, virgin mobile, vodafone and mazuma mobile which are contingent upon certain conditions, such as spending a certain amount on other goods, or any other promotional offers.

7. We reserve the right to withdraw this trade-in promise or change these terms and conditions at any time.

8. The carphone warehouse limited takes your privacy and security of your personal information very seriously. Our privacy policy explains how we collect and use personal information in accordance with data protection laws. Our privacy policy can be found at www.Carphonewarehouse.Com/terms-and-conditions/privacy-policy

9. English law applies to these terms and conditions.

The carphone warehouse limited (registered in england no. 2142673), 1 portal way, london W3 6RS.

5 easy steps for bitcoin trading for profit and beginners

Bitcoin trading can be extremely profitable for professionals or beginners. The market is new, highly fragmented with huge spreads. Arbitrage and margin trading are widely available. Therefore, many people can make money trading bitcoins.

Bitcoin’s history of bubbles and volatility has perhaps done more to bring in new users and investors than any other aspect of the crpytocurrency.

Each bitcoin bubble creates hype that puts bitcoin’s name in the news. The media attention causes more to become interested, and the price rises until the hype fades.

Each time bitcoin’s price rises, new investors and speculators want their share of profits. Because bitcoin is global and easy to send anywhere, trading bitcoin is simple.

Compared to other financial instruments, bitcoin trading has very little barrier to entry. If you already own bitcoins, you can start trading almost instantly. In many cases, verification isn’t even required in order to trade.

If you are interested in trading bitcoin then there are many online trading companies offering this product usually as a contract for difference or CFD.

Avatrade offers 20 to 1 leverage and good trading conditions on its bitcoin CFD trading program.

Why trade bitcoin?

Before we show you how to trade bitcoin, it’s important to understand why bitcoin trading is both exciting and unique.

Bitcoin is global

Bitcoin isn’t fiat currency, meaning its price isn’t directly related to the economy or policies of any single country. Throughout its history, bitcoin’s price has reacted to a wide range of events, from china’s devaluation of the yuan to greek capital controls.

General economic uncertainty and panic has driven some of bitcoin’s past price increases. Some claim, for example, that cyprus’s capital controls brought attention to bitcoin and caused the price to rise during the 2013 bubble.

Bitcoin trades 24/7

Unlike stock markets, there are no official bitcoin exchanges. Instead, there are hundreds of exchanges around the world that operate 24/7. Because there is no official bitcoin exchange, there is also no official bitcoin price. This can create arbitrage opportunities, but most of the time exchanges stay within the same general price range.

Bitcoin is volatile

Bitcoin is known for its rapid and frequent price movements. Looking at this daily chart from the coindesk BPI, it’s easy to spot multiple days with swings of 5% or more:

Bitcoin’s volatility creates exciting opportunities for traders who can reap quick benefits at anytime.

Find an exchange

As mentioned earlier, there is no official bitcoin exchange. Users have many choices and should consider the following factors when deciding on an exchange:

Regulation & trust – is the exchange trustworthy? Could the exchange run away with customer funds?

Location – if you must deposit fiat currency, and exchange that accepts payments from your country is required.

Fees - what percent of each trade is charged?

Liquidity – large traders will need a bitcoin exchange with high liquidity and good market depth.

Based on the factors above, the following exchanges dominate the bitcoin exchange market:

Bitfinex - bitfinex is the world’s #1 bitcoin exchange in terms of USD trading volume, with about 25,000 BTC traded per day. Customers can trade with no verification if cryptocurrency is used as the deposit method.

Bitstamp - bitstamp was founded in 2011 making it one of bitcoin’s oldest exchanges. It’s currently the world’s second largest exchange based on USD volume, with a little under 10,000 BTC traded per day.

Okcoin - bitcoin exchange based in china but trades in USD.

Coinbase - coinbase exchange was the first regulated bitcoin exchange in the united states. With about 8,000 BTC traded daily, it’s the world’s 4 th largest exchange based on USD volume.

Kraken - kraken is the #1 exchange in terms of EUR trading volume at

6,000 BTC per day. It’s currently a top-15 exchange in terms of USD volume.

Bitcoin trading in china

Global bitcoin trading data shows that a very large percent of the global price trading volume comes from china. It’s important to understand that the chinese exchanges lead the market, while the exchanges above simply follow china’s lead.

The main reason china dominates bitcoin trading is because financial regulations in china are less strict than in other countries. Therefor, chinese exchanges can offer leverage, lending, and futures options that exchanges in other countries can’t. Additionally, chinese exchanges charge no fees so bots are free to trade back and forth to create volume.

If you’d like to learn more about bitcoin trading in china, this video from bitmain’s jihan wu provides additional insight.

How to trade bitcoin

Kraken will be used as an example for this guide. The process and basic principles remain the same across all exchanges.

First, create an account on kraken by clicking the black sign up box in the right corner:

You’ll have to confirm your account via email. Once your account is confirmed and you’ve logged in, you must verify your personal information. All bitcoin exchanges require varying levels of verification as required by AML and KYC laws. Below you can find the first three verification levels:

Once your account is verified, head over to the “funding” tab. You should see something similar to the screenshot below. Select your funding method from the left side:

Kraken offers many deposit methods, which are listed here:

EUR SEPA deposit (free) - EEA countries only

EUR bank wire deposit (€5) - EEA countries only

USD bank wire deposit (free until 3/1/2016, then $5 USD) - US only

USD SEPA and SWIFT deposit (0.19%, $20 minimum)

GBP SEPA and SWIFT deposit (0.19%, £10 minimum)

JPY bank deposit (free, ¥5,000 deposit minimum) - japan only

CAD interac deposit (free until 3/1/2016, then 1%, $10 CAD fee minimum, $5,000 CAD deposit maximum)

CAD EFT deposit (free until 3/1/2016, then 1%, $10 CAD fee minimum, $50 CAD fee maximum, $10,000 CAD deposit maximum)

Deposits made using the traditional banking system will take anywhere from one to three days. Bitcoin deposits require six confirmations, which is about one hour.

Now, navigate to the “trade” tab. Using the black bar at the top of the page, you can switch trading pairs. In this example we’ll use XBT/USD. We want to buy bitcoins, so let’s put in an order. Navigate to the “new order” tab.

Let’s say I’ve deposited $300 into my account with a USD bank wire. In the example below, I’ve submitted an order to buy 0.5 bitcoins (XBT) at a price of $370 per bitcoin.

Check the black bar at the top, and you’ll notice that the last trade price was $383.17.

Why submit an order to buy at $370 per bitcoin (XBT) and not $383.17? One may submit an order lower than the current price if one expects the price of bitcoin to fall. In this case, since my order is lower than other offers in the orderbook, I won’t receive my order for 0.5 bitcoin immediately. Placing an order at a specified price is called a _limit order._ before placing an order, be sure to check the orderbook for your trading pair.

In the example orderbook below, you can see that the highest buy offer is for $382.5 per bitcoin, while the lowest sell order is at $384.07 per bitcoin.

Using the order form there’s also an option for “market”.

A market order in this case would submit a buy order for XBT at the price of the lowest available sell order. Using the orderbook above, a market order for 0.5 XBT would purchase 0.5 XBT at $384.07 per XBT. If selling bitcoins, a market order would sell bitcoins for the highest available price based on the current buy orderbook—in this case $382.5.

Trading risks

Bitcoin trading is exciting because of bitcoin’s price movements, global nature, and 24/7 trading. It’s important, however, to understand the many risks that come with trading bitcoin.

Leaving money on an exchange

Perhaps one of the most famous events in bitcoin’s history is the collapse of mt. Gox. In bitcoin’s early days, gox was the largest bitcoin exchange and the easiest way to buy bitcoins. Customers from all over the world were happy to wire money to mt. Gox’s japanese bank account just to get their hands on some bitcoins.

Many users forgot one of the most important features of bitcoin—controlling your own money—and left more than 800,000 bitcoins in gox accounts. In february 2014, gox halted withdrawals and customers were unable to withdrawal their funds. The company’s CEO claimed that the majority of bitcoins were lost due to a bug in the bitcoin software. Customers still have not received any of their funds from gox accounts.

Gox’s catastrophic collapse highlights the risk that any trader takes by leaving money on an exchange. Using a regulated bitcoin exchange like kraken can decrease your risk.

Your capital is at risk

Remember that as with any type of trading, your capital is at risk. New traders should start trading with small amounts or trade on paper to practice. Beginners should also learn bitcoin trading strategies and understand market signals.

Bitcoin trading tools & resources

Cryptowatch & bitcoin wisdom – live price charts of all major bitcoin exchanges.

Bitcoin charts – more price charts to help you understand bitcoin’s price history.

Bitcoinmarkets – A bitcoin trading sub-reddit. New users can ask questions and receive guidance on trading techniques and strategy.

Tradingview – trading community and a great resource for trading charts and ideas.

So, let's see, what we have: gamestop corp.'S stock spiked past $150 monday in a run that has appeared to defy gravity as loyalists and short sellers have clashed over the value of the... At cash trading